SEC Announces $106 Million Fair Fund Distribution to Harmed Investors in HealthSouth Financial Fraud
FOR IMMEDIATE RELEASE
Washington, D.C., July 26, 2010 — The Securities and Exchange Commission today announced a Fair Fund distribution of more than $106 million to investors harmed in a financial fraud at HealthSouth Corporation.
The Fair Fund for HealthSouth Corporation fraud victims resulted from an SEC enforcement action in March 2003 after which HealthSouth paid $100 million to settle SEC charges that it falsely inflated earnings to meet Wall Street expectations. The U.S. District Court of the Northern District of Alabama entered a final judgment against HealthSouth in June 2005, and the court approved the establishment of the Fair Fund in April 2006.
This Fair Fund distribution to 67,695 individual investors, pension plans and other victims represents the entirety of the money HealthSouth paid to settle the SEC's fraud charges, plus interest.
Questions regarding the Fair Fund distribution should be directed to the Claims Administrator, Rust Consulting, Inc.:
- Visit the settlement website: www.HLSSettlement.com
- Call toll-free: 1-888-952-9108 (Monday to Friday, 9 a.m. to 6 p.m. ET)
- E-mail: mail@HLSSettlement.com
- Write to: SEC HealthSouthSecurities Settlement, 201 S. Lyndale Avenue, Suite S-3, P.O. Box 1883, Faribault, MN 55021-7138
# # #